It can only ruin lives if people believe it's real. Until recently, that was a reasonable belief; now it's not. People will catch on and society will adapt.
It's not like the technology is going to disappear.
Right - as I said, we need to ramp up social skepticism, fast. Not as in some kind of utopian vision, but "the amount of fake information will be moving from a trickle to a flood soon, there's nothing you can do about that, so brace yourselves".
The specific policies of OpenAI or Google or whatnot are irrelevant. The technology is out of the bag.